Abrihi: World Bank loan {} useful if the full grant

12/20/2015 0:00

BAGHDAD Shokran Fatlawi

Counting economist d. Ahmed Abrihi in his speech for the {morning »the loan granted to Iraq by the World Bank Bamufad and appropriate if the grant in 2016 as a down payment and one or two batches and diminished its importance if one part to several years.

He Bureihi that the amount of the loan and the $ billion and $ 200 million to help fiscal consolidation and improve efficiency and to compensate the decline in oil prices and rising security costs not included in the general budget for 2016.

He said Abrihi to that borrowing in general will restrict the country a series of meetings obligations where said an official statement of the bank that he «Paying tribute to the initiation of the Iraqi government in the implementation of a strict program of reform economic, announce the approval of the financing for development policies aimed at fiscal consolidation, and the provision of sustainable energy, and enhance the transparency of the institutions that the state-owned »project, confirming his agreement to« give Iraq a loan of one billion and 200 million dollars ».

The bank said that« this process consistent with the The Iraqi government's plan for economic recovery for the period between 2015-2018, committed by Iraq to implement reforms that will achieve the promotion of an integrated economic growth, and improve the efficiency of the delivery of basic services to the citizens, and to take the actions necessary to install the means of social protection ».

The statement pointed out that« the loan will be used in reforms in three areas, namely reform of the public sector wage system and the reduction of gas flaring operations, and expansion of electricity generation activities through the use of gas, and reduce spending on energy and support transparency in the financial institutions and non-financial support of the state ».